WIPRO 2021-22 Annual Report Analysis

WIPRO 2021-22 Annual Report Analysis
Mon, 16 May
WIPRO has announced its results for the year ended March 2022. Let us have
a look at the detailed performance review of the company during FY21-22.
WIPRO Income Statement Analysis
 Operating income during the year rose 28.0% on a year-on-year (YoY)
basis.
 The company's operating profit increased by 13.5% YoY during the fiscal.
Operating profit margins witnessed a fall and stood at 20.9% in FY22 as
against 23.6% in FY21.
 Depreciation charges increased by 11.9% and finance costs increased by
4.7% YoY, respectively.
 Other income declined by 15.4% YoY.
 Net profit for the year grew by 12.6% YoY.
 Net profit margins during the year declined from 17.5% in FY21 to 15.4%
in FY22.
WIPRO Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 619,430 793,120 28.0%
Other income Rs m 25,295 21,409 -15.4%
Total Revenues Rs m 644,725 814,529 26.3%
Gross profit Rs m 146,326 166,045 13.5%
Depreciation Rs m 27,634 30,911 11.9%
Interest Rs m 5,088 5,325 4.7%
Profit before tax Rs m 138,899 151,218 8.9%
Tax Rs m 30,349 28,946 -4.6%
Profit after tax Rs m 108,550 122,272 12.6%
Gross profit margin % 23.6 20.9
Effective tax rate % 21.8 19.1
Net profit margin % 17.5 15.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster
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WIPRO Balance Sheet Analysis
 The company's current liabilities during FY22 stood at Rs 308 billion as
compared to Rs 230 billion in FY21, thereby witnessing an increase of
34.0%.
 Long-term debt stood at Rs 56 billion as compared to Rs 7 billion during
FY21, a growth of 657.1%.
 Current assets rose 19% and stood at Rs 621 billion, while fixed assets
rose 51% and stood at Rs 456 billion in FY22.
 Overall, the total assets and liabilities for FY22 stood at Rs 1,077 billion
as against Rs 826 billion during FY21, thereby witnessing a growth of
30%.
WIPRO Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 545,939 652,900 19.6

Current Liabilities Rs m 230,040 308,329 34.0
Long-term Debt Rs m 7,458 56,463 657.1
Total Liabilities Rs m 825,658 1,076,884 30.4

Current assets Rs m 523,186 620,752 18.6
Fixed Assets Rs m 302,472 456,132 50.8
Total Assets Rs m 825,658 1,076,884 30.4
WIPRO Cash Flow Statement Analysis
 WIPRO's cash flow from operating activities (CFO) during FY22 stood at
Rs 111 billion on a YoY basis.
 Cash flow from investing activities (CFI) during FY22 stood at Rs -224
billion on a YoY basis.
 Cash flow from financial activities (CFF) during FY22 stood at Rs 47
billion, an improvement of 136% on a YoY basis.
 Overall, net cash flows for the company during FY22 stood at Rs -66
billion from the Rs 26 billion net cash flows seen during FY21.
WIPRO Cash Flow Statement 2021-22

No. of
12 12
months %
Particulars
Year Change
Mar-21 Mar-22
Ending
Cash Flow from Operating 147,55 110,79
Rs m -24.9%
Activities 0 7
-
Cash Flow from Investing
Rs m 7,739 224,49 -
Activities
5
-
Cash Flow from Financing
Rs m 128,84 46,586 -
Activities
0
Net Cash Flow Rs m 25,559 -65,830 -
Current Valuations for WIPRO

 The trailing twelve-month earnings per share (EPS) of the company
stands at Rs 22.3, an improvement from the EPS of Rs 19.8 recorded last
year.
 The price to earnings (P/E) ratio, at the current price of Rs 469.1, stands
at 21.0 times its trailing twelve months earnings.
 The price to book value (P/BV) ratio at current price levels stands at 3.9
times, while the price to sales ratio stands at 3.2 times.
 The company's price to cash flow (P/CF) ratio stood at 20.6 times its end-
of-year operating cash flow earnings.
Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 113.1 144.7
TTM Earnings per share Rs 19.8 22.3
Diluted earnings per share Rs 19.8 22.3
Price to Cash Flow x 16.7 20.6
TTM P/E ratio x 20.9 21.0
Price / Book Value ratio x 3.2 4.8
Market Cap Rs m 1,756,612 3,159,180
Dividends per share (Unadj.) Rs 1.0 6.0
Ratio Analysis for WIPRO

 Solvency Ratios
Current Ratio: The company's current ratio deteriorated and stood at 2.0x

during FY22, from 2.3x during FY21. The current ratio measures the company's
ability to pay short-term and long-term obligations.
Interest Coverage Ratio: The company's interest coverage ratio improved and
stood at 29.4x during FY22, from 28.3x during FY21. The interest coverage ratio
of a company states how easily a company can pay its interest expense on
outstanding debt. A higher ratio is preferable.
 Profitability Ratios
Return on Equity (ROE): The ROE for the company declined and down at
18.7% during FY22, from 19.9% during FY22. The ROE measures the ability of
a firm to generate profits from its shareholders capital in the company.
Return on Capital Employed (ROCE): The ROCE for the company declined and
down at 22.1% during FY22, from 26.0% during FY21. The ROCE measures
the ability of a firm to generate profits from its total capital (shareholder capital
plus debt capital) employed in the company.
Return on Assets (ROA): The ROA of the company declined and down at 11.8%
during FY22, from 13.8% during FY21. The ROA measures how efficiently the
company uses its assets to generate earnings.
Key Ratio Analysis
No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 2.3 2.0
Debtors’ Days Days 56 53
Interest coverage x 28.3 29.4
Debt to equity ratio x 0.0 0.1
Return on assets % 13.8 11.8
Return on equity % 19.9 18.7
Return on capital employed % 26.0 22.1
To see how WIPRO has performed over the last 5 years, please visit here.
WIPRO Share Price Performance
Over the last one year, WIPRO share price has moved down from Rs 498.4 to
Rs 469.1, registering a loss of Rs 29.3 or around 5.9%.
Meanwhile, the S&P BSE IT Index is trading at Rs 29,792.8 (down 0.6%). Over
the last one year it has moved up from 26,131.6 to 29,792.8, a gain of 3,661
points (up 14.0%).
Overall, the S&P BSE SENSEX is up 8.8% over the year.
(To know more, check out historical annual results for WIPRO and quarterly
results for WIPRO)
Annual Report FAQs
What is the current share price of WIPRO?

WIPRO currently trades at Rs 375.0 per share. You can check out the latest
share price performance of WIPRO here...
What was the revenue of WIPRO in FY22? How does it compare to earlier years?
The revenues of WIPRO stood at Rs 814,529 m in FY22, which was up 26.3%

compared to Rs 644,725 m reported in FY21.
WIPRO's revenue has grown from Rs 570,465 m in FY18 to Rs 814,529 m in

FY22.
Over the past 5 years, the revenue of WIPRO has grown at a CAGR of 9.3%.
What was the net profit of WIPRO in FY22? How does it compare to earlier years?
The net profit of WIPRO stood at Rs 122,272 m in FY22, which was up 12.6%
compared to Rs 108,550 m reported in FY21.
This compares to a net profit of Rs 97,689 m in FY20 and a net profit of Rs

90,222 m in FY19.
Over the past 5 years, WIPRO net profit has grown at a CAGR of 11.2%.
What does the cash flow statement of WIPRO reveal?
The cash flow statement is the financial statement that presents the cash
inflows and outflows of a company during a given period of time.
This statement is one of the most useful tools for judging a company's liquidity
position. The ratios and parameters in this statement helps test a company's
financial health.
The cash flow statement of WIPRO reveals:
 Cash flow from operations decreased in FY22 and stood at Rs 110,797 m

as compared to Rs 147,550 m in FY21.
 Cash flow from investments decreased in FY22 and stood at Rs -224,495
m as compared to Rs 7,739 m in FY21.
 Cash flow from financial activity increased in FY22 and stood at Rs
46,586 m as compared to Rs -128,840 m in FY21.
Here's the cash flow statement of WIPRO for the past 5 years.
(Rs m) FY18 FY19 FY20 FY21 FY22

116,31 100,64 147,55 110,79
From Operations 84,233
6 3 0 7
-
From Investments 35,578 50,126 34,012 7,739 224,49
5
- - -
From Financial -
129,97 150,99 128,84 46,586
Activity 49,369
8 8 0
117,59
Net Cashflow -9,792 -14,421 25,559 -65,830
9
What does the Key Ratio analysis of WIPRO reveal?
Be it the company's profitability, operations effectiveness or utilization of funds,

ratio analysis is an important tool which helps in making investment decisions.
The ratio/financial analysis of WIPRO reveals:
 Operating profit margins witnessed a fall and stood at 20.9% in FY22 as

against 23.6% in FY21.
 Net profit margins declined from 17.5% in FY21 to 15.4% in FY22.
 Debt to Equity ratio for FY22 stood at 0.1 as compared to 0.0 in FY21.
Here's the ratio/financial analysis of WIPRO for the past 5 years.
FY18 FY19 FY20 FY21 FY22

Operating Profit Margin (%) 19.0 19.7 20.2 23.6 20.9
Net Profit Margin (%) 14.7 15.3 16.0 17.5 15.4
Debt to Equity Ratio (x) 0.1 0.1 0.0 0.0 0.1
Wipro Ltd.
BSE: 507685 | NSE: WIPRO |
SERIES: EQ | ISIN: INE075A01022 | SECTOR: IT SERVICES & CONSULTING
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BALANCE SHEET OF MAR 22 MAR 21 MAR 20 MAR 19 MAR 18

WIPRO (in Rs. Cr.)
12 mths 12 mths 12 mths 12 mths 12 mths
EQUITIES AND
LIABILITIES
SHAREHOLDER'S
FUNDS
Equity Share Capital 1,096.40 1,095.80 1,142.70 1,206.80 904.80
TOTAL SHARE 1,096.40 1,095.80 1,142.70 1,206.80 904.80

CAPITAL
Reserves and Surplus 53,254.3 44,145.8 45,311.0 48,185.2 41,357.8

0 0 0 0 0
TOTAL RESERVES 53,254.3 44,145.8 45,311.0 48,185.2 41,357.8

AND SURPLUS 0 0 0 0 0
TOTAL 54,350.7 45,241.6 46,453.7 49,392.0 42,262.6

SHAREHOLDERS 0 0 0 0 0
FUNDS
NON-CURRENT
LIABILITIES
Long Term Borrowings 5.70 14.10 25.10 22.00 72.40
Deferred Tax Liabilities 0.00 130.50 0.00 10.40 46.30

[Net]
Other Long Term 2,788.60 2,129.20 2,170.50 1,309.50 1,085.30

Liabilities
Long Term Provisions 64.10 88.50 213.30 119.60 168.80
TOTAL NON-CURRENT 2,858.40 2,362.30 2,408.90 1,461.50 1,372.80

LIABILITIES
CURRENT LIABILITIES
Short Term Borrowings 7,673.40 5,791.20 5,001.90 5,052.20 4,647.70
Trade Payables 4,685.10 4,348.50 4,542.60 4,765.50 4,176.20
Other Current Liabilities 9,446.90 6,705.30 5,769.10 5,397.90 5,418.60

Short Term Provisions 1,368.30 1,287.40 1,130.20 929.00 793.40
TOTAL CURRENT 23,173.7 18,132.4 16,443.8 16,144.6 15,035.9

LIABILITIES 0 0 0 0 0
TOTAL CAPITAL AND 80,382.8 65,736.3 65,306.4 66,998.1 58,671.3

LIABILITIES 0 0 0 0 0
ASSETS
NON-CURRENT
ASSETS
Tangible Assets 7,386.60 6,578.70 5,863.30 3,874.20 3,802.60
Intangible Assets 651.10 709.40 776.10 526.80 564.40
Capital Work-In-Progress 1,584.50 1,848.00 1,873.50 2,112.70 1,290.60
Other Assets 0.00 0.00 0.00 0.00 0.00
FIXED ASSETS 9,622.20 9,136.10 8,512.90 6,513.70 5,657.60
Non-Current Investments 16,557.2 8,206.70 7,735.00 8,250.30 5,841.60

0
Deferred Tax Assets 53.30 47.40 433.30 391.00 452.00

[Net]
Long Term Loans And 0.00 0.00 0.00 0.00 0.00

Advances
Other Non-Current 2,377.90 2,966.60 2,911.90 4,112.70 3,752.80
Assets
TOTAL NON-CURRENT 28,610.6 20,356.8 19,593.1 19,267.7 15,704.0

ASSETS 0 0 0 0 0
CURRENT ASSETS
Current Investments 24,073.7 17,495.2 18,963.5 21,998.8 24,841.2

0 0 0 0 0
Inventories 87.50 91.00 174.10 340.30 294.30
Trade Receivables 9,295.40 8,046.20 9,257.00 10,648.6 9,502.00

0
Cash And Cash 4,898.10 9,783.20 10,444.0 10,390.2 2,322.00

Equivalents 0 0
Short Term Loans And 1,913.00 4,201.50 947.20 0.00 0.00

Advances
OtherCurrentAssets 11,504.5 5,762.40 5,927.50 4,352.50 6,007.80

0
TOTAL CURRENT 51,772.2 45,379.5 45,713.3 47,730.4 42,967.3

ASSETS 0 0 0 0 0
TOTAL ASSETS 80,382.8 65,736.3 65,306.4 66,998.1 58,671.3

0 0 0 0 0
OTHER ADDITIONAL
INFORMATION
CONTINGENT
LIABILITIES,
COMMITMENTS
Contingent Liabilities 8,271.50 1,999.00 2,693.50 2,618.90 10,123.1

0
CIF VALUE OF
IMPORTS
Raw Materials 0.00 0.00 0.00 0.00 0.00
Stores, Spares And 0.00 0.00 0.00 0.00 0.00

Loose Tools
Trade/Other Goods 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXPENDITURE IN
FOREIGN EXCHANGE
Expenditure In Foreign 25,960.2 21,329.5 22,949.1 23,036.2 20,783.1

Currency 0 0 0 0 0
REMITTANCES IN
FOREIGN
CURRENCIES FOR
DIVIDENDS
Dividend Remittance In -- -- -- -- --
Foreign Currency
EARNINGS IN
FOREIGN EXCHANGE
FOB Value Of Goods -- -- -- -- --
Other Earnings 54,849.0 46,344.7 46,079.4 44,458.4 39,180.7

0 0 0 0 0
BONUS DETAILS
Bonus Equity Share 1,094.34 1,094.34 1,141.18 1,205.19 903.50

Capital
NON-CURRENT
INVESTMENTS
Non-Current Investments 4.10 2.60 -- -- --

Quoted Market Value
Non-Current Investments 16,553.1 8,204.10 7,735.00 8,250.30 5,841.60

Unquoted Book Value 0
CURRENT
INVESTMENTS

Quoted Market Value 0 0 0 0 0
Unquoted Book Value
Management discussion and analysis
Ambitions Realized•
$1 billion in cloud technologies,
capabilities, acquisitions, and
For over 75 years, Wipro has believed in Living up to this promise requires partnerships.
87
turning big ambitions into bold us to continually transform and
achievements. Our brand campaign, reinvent
Ambitions Realized, reflects our journey as a ourselves and our capabilities. Over
company, and celebrates our commitment to the past year, we have made
empowering bold ideas and the success of our significant investments and
customers, colleagues, and communities. revamped how we serve clients and
Further, the campaign underscores Wipro’s how we go to market in many
ambition of being an inspiration for critical areas of our business. We
created Wipro FullStride Cloud
bold action in an era of unprecedented Services and committed to investing
change.
Integrated Annual Report 2021-22 1

Performance overview
Financial highlights Performance by capital
IT Services revenue ($ million) IT Services operating margin1 (%) Human capital
FY22 10,355.9 FY22 17.7 Total employees Women employees Nationalities in workforce
247,073 36% 135+

FY21 8,136.5 FY21 20.3
Persons with disabilities Employees trained in digital

FY20 8,252.8 FY20 18.1
skills
(based on voluntary self-declaration)
705 185,000+
Net income to turnover2 (%) Free cash flow to net income (%)
Intellectual capital
FY22 15.4 FY22 74.8
FY21
R&D (` million) Patent filed cumulatively till date Patent granted till date
17.3 FY21 119.3
FY20
15.8 FY20 80.7

2,926 2,000+ 1,092
Gross utilization (%)

Social and relationship capital
Number of $100Mn+ accounts customers
FY22 76.8
Active customers Total employees engaged with Diverse supplier spend
FY22 19 Wipro Cares
(% of total spend on products and services)
1,418 (volunteering or monetary contribution
or both)
12%
FY21 75.7 FY21 11
CSR spend (` million)

35,000+ Community Initiatives
FY20 72.2 FY20
15 2,216 170+ partners
Market capitalization3 ($ billion) Payout ratio4 (%)
Natural capital
FY22 42.7 FY22 81.6 Total GHG emission Water recycled Waste sent to landfill
(tons of Co2 eq.)
(% of total water consumption) (excluding C&D)
FY21 31.0 FY21 81.2

495,618 33% 3%
FY20 14.9 FY20 87.3
Strategic market unit wise performance mix
APMEA
Growth YoY% in Growth YoY% in
11.6% re ported currency constant currency
Americas 1
13.6% 27.9%
Americas 1
29.4%
20.9% 20.7%
Americas 2
Europe 31.2% 30.4%
Europe
29.9%
Americas 2 39.1% 38.6%
27.3% 30.6% APMEA
29.7% Total
8.8% 8.9%
27.3% 26.9%
Inner Circle: FY2021 percentage of revenues

Outer Circle: FY2022 percentage of revenues

Capital-wise review
Sector-wise performance mix
The IT Services segment revenue due to the impact of salary increasesBanking,

and increase
Financial Services and Insurance
Communications
increased by 29.1% for the year ended
and incremental 34.7%
in sales headcount5.0% amortization of
March 31, 2022 compared to our intangibles of ` 1,510 million recognized on acquisitions
5.2% 30.7%
revenue for the year ended March 31, consummated during the year ended
2021. The revenue for all SMUs grew Manufacturing
during the year. The growth was led by a March 31, 2022 and increase in marketing and brand building
6.8% expenses by ` 999 million.
surge in demand for IT services by our
8.1%
customers, consummation of Technology General and administrative expenses as a percentage of revenue
acquisitions, including Capco, a ramp up
12.1% from our IT Services segment increased from 5.5% for the year
of our new deal wins and depreciation of ended March 31, 2021 to 6.0% for the year ended March 31, 2022.
the Indian Rupee against foreign
13.0%
In absolute terms, general and administrative expenses increased
currencies, including the USD, Pound
Sterling, Australian Dollar and Canadian by ` 13,331 million, primarily due to an increase in employee
Energy, Naturalcompensation
Resources and Utilities
costsby ` 8,463 million due to the impact of salary
Dollar. 12.2% increases and the increase
Our acquisitions consummated during 13.1% in headcount, including through our acquisitions, incremental
the year ended March 31, 2022 recruitment costs of ` 4,515 million due to additions to
headcountHealth
and increases in legal and professional fees by `
Consumer
contributed revenues of 1,797 million. These increases
11.7% 17.5%
` 72,730 million. 13.5% 16.4%
Inner Circle: FY2021 percentage of revenues Outer Circle: FY2022 percentage of revenues
Our gross profit as a percentage of our
revenue
from our IT Services segment

decreased by 218 bps, primarily due to have been partially offset by the decrease in lifetime expected credit loss
the increase in employee
compensation costs by ` 99,239
million due to
the impact of salary increases and

increase in
headcount, including through our

acquisitions, incremental subcontracting
costs of ` 29,871 million, and the increase
in facility expenses by ` 4,724 million
due to partial return of our employees to

offices.
Selling and marketing expenses as a

percentage of revenue from our IT
Services segment increased from 6.8%
for the year ended March 31, 2021 to
7.0% for the year ended March 31, 2022.

In absolute terms, selling and marketing
expenses increased by ` 13,703 million
primarily because of increase in
employee compensation costs by ` 10,248

million

Capital-wise review
Balance Sheet

Capital-wise review
(` in millions, except share and per share data, unless otherwise stated)
As at As at
Notes
March 31, 2022 March 31, 2021
ASSETS
Non-current assets
Property, plant and equipment 4 65,167 56,758
Right-of-Use assets 5 8,699 9,029
Capital work-in-progress 6 15,845 18,480
Goodwill 7 4,604 4,571
Other intangible assets 7 1,907 2,523
Financial assets
Investments 8 165,572 82,067
Derivative assets 20 6 16
9 - 3,079
Trade receivables
3,188 4,469
Other financial assets 11
533 474
Deferred tax assets (net) 21
9,747 13,829
Non-current tax assets (net)
10,838 8,273
Other non-current assets 13
286,106 203,568
Total non-current assets
Current assets
875 910
Inventories 12
Financial assets
240,737 174,952
Investments 8
2,995 4,049
Derivative assets 20
92,954 80,462
Trade receivables 9 35,127 15,823
Unbilled receivables 19,130 42,015
Loans to 48,981 97,832
subsidiaries 39,431 5,187
Cash and cash equivalents 10 529 973
Other financial assets 11 13,979 10,809
Current tax assets (net) 22,984 20,783
Contract assets 517,722 453,795
Other current assets 13 803,828 657,363
Total current assets
TOTAL ASSETS
EQUITY AND LIABILITIES 10,964 10,958
EQUITY 532,543 441,458
Equity share capital 14 543,507 452,416
Other equity
TOTAL EQUITY
LIABILITIES
Non-current liabilities 57 141
Financial liabilities 6,939 7,073

48 -
Borrowings 15
2 130
Lease liabilities 5,15
Derivative liabilities 20
Other financial liabilities 17

Capital-wise review
Integrated Annual Report 2021-22
147

Balance Sheet
Standalone Financial Statement under Ind AS
As at As at
Notes
March 31, 2022 March 31, 2021
Provisions 18 641 885
Deferred tax liabilities (net) 21 - 1,305
Non-current tax liabilities (net) 16,052 9,110
Other non-current liabilities 19 4,845 4,979
28,584 23,623
Total non-current liabilities
Current liabilities
Financial liabilities
76,734 58,011
Borrowings 15
4,311 4,021
Lease liabilities 5,15
585 1,021
Derivative liabilities 20
Trade payables
1,117 184
(a) Total outstanding dues of micro enterprises and small enterprises 16
45,734 41,055
(b) Total outstanding dues of creditors other than micro enterprises and 16
small enterprises 53,714 22,049
Other financial liabilities 17 21,095 18,063
Contract liabilities 6,426 6,965
Other current liabilities 19 13,683 15,120
Provisions 18 8,338 14,835
Current tax liabilities (net) 231,737 181,324
Total current liabilities 260,321 204,947
TOTAL LIABILITIES 803,828 657,363
TOTAL EQUITY AND LIABILITIES
The accompanying notes form an integral part of these standalone financial statements
As per our report of even date attached.
for Deloitte Haskins & Sells LLP For and on behalf of the Board of Directors
Chartered Accountants
Firm's Registration No.: 117366W/W – 100018
Vikas Bagaria Rishad A. Premji Deepak M. Satwalekar Thierry Delaporte
Partner Chairman Director Chief Executive Officer &
Membership No.: 60408 Managing Director
Jatin Pravinchandra Dalal M. Sanaulla Khan
Chief Financial Officer Company Secretary

Bengaluru June
8, 2022
148 Wipro Limited | Ambitions Realized

Statutory Reports and Financial Statements
Statement of Profit and Loss

Year ended Year ended

Notes
March 31, 2022 March 31, 2021
INCOME
Revenue from operations 22 595,744 502,994
Other income 23 47,061 23,829
Total Income 642,805 526,823
EXPENSES
Purchases of stock-in-trade 4,888 5,879
Changes in inventories of finished goods and stock-in-trade 24 (64) 345
Employee benefits expense 25 315,424 264,673
Finance costs 26 3,674 4,026
Depreciation, amortisation and impairment expense 14,857 13,493
Sub-contracting and technical fees 109,777 80,352
Facility expenses 17,539 14,318
Travel 5,976 4,358
Communication 3,729 4,189
Legal and professional charges 4,075 3,537
Marketing and brand building 1,624 839
Other expenses 27 8,664 3,966
Total expenses 490,163 399,975
Profit before tax 152,642 126,848
Tax expense
Current tax 21 31,941 22,430
Deferred tax 21 (652) 3,809
Total tax expense 31,289 26,239
Profit for the year 121,353 100,609
Other comprehensive income (OCI)
Items that will not be reclassified to profit or loss:
Re-measurements of the defined benefit plans, net 25 (12) 562
Net change in fair value of investment in equity instruments measured at fair
(4) (8)
value through OCI
Income tax relating to items that will not be reclassified to profit or loss 21 1 (113)
Statement of Profit and Loss

Notes
March 31, 2022 March 31, 2021
Items that will be reclassified to profit or loss:
Net change in time value of option contracts designated as cash flow hedges 183 66
Net change in intrinsic value of option contracts designated as cash flow hedges (120) 1,193
Net change in fair value of forward contracts designated as cash flow hedges (303) 3,799
Net change in fair value of investment in debt instruments measured at fair value (1,944) 2,079
through OCI
Income tax relating to items that will be reclassified to profit or loss 21 712 (1,241)
Total other comprehensive income / (loss) for the year, net of taxes (1,487) 6,337
Total comprehensive income for the year 119,866 106,946
Earnings per equity share 28

(Equity shares of par value `2 each)
Basic 22.20 17.81
Diluted 22.14 17.77
Weighted average number of equity shares used in computing earnings

per equity share
Basic 5,466,705,840 5,649,265,885
Diluted 5,482,083,438 5,661,657,822

Bengaluru June
8, 2022

Statement of Changes in Equity Standalone Financial Statement under Ind AS
A. Equity share capital
Changes in equity share capital Changes in equity share capital during

Balance as at April 1, 2021 Restated balance as at April 1, 2021 Balance as at March 31, 2022
due to prior period errors the current year
10,958 - 10,958 6 10,964
Changes in equity share capital due to Changes in equity share capital during
Balance as at April 1, 2020 prior period errors Restated balance as at April 1, 2020 Balance as at March 31, 2021
the previous year
11,427 - 11,427 (469) 10,958
B. Other equity
Common Special Investment in Investment in

Share Share Foreign
Securi- Capital control economic Cash Remeasu- debt equity
application options currency
ties Capital redemp- Retained transac- zone re- flow rements of the instruments instruments Total other
Particulars money out- transla-
prem- reserve tion earnings tions invest- hedging defined benefit measured at measured at equity
pending standing tion
ium reserve capital ment reserve plans fair value fair value
allotment account reserve

^ Value is less than `1
(1)
4,711,486 shares have been transferred by the controlled trust to eligible employees on exercise of options during the year ended March 31, 2022.
151
(2)
Refer to Note 29
Statement of Changes in Equity Standalone Financial Statement under Ind AS
Reserves and Surplus Other components of equity
Share Common Special Investment in Investment in

application Securi- Capital control Share economic Foreign Remeasu- debt equity Total other
Cash
Particulars money ties Capital redemp- Retained transac- options zone re- currency rements of instruments instruments equity
flow
pending prem- reserve tion earnings tions out- invest- transla- the defined measured measured
hedging
allotment standing tion

ium reserve capital ment reserve benefit plans at fair value at fair value
reserve reserve through OCI
account reserve
through OCI
Balance as at April 1, 2020 ^ 887 1,139 660 403,773 2,473 1,550 43,804 (2,315) 1,882 (971) 2,386 (2,158) 453,110
Profit for the year - - - - 100,609 - - - - - - - - 100,609
Other comprehensive income / (loss) - - - - - - - - 4,045 - 447 1,851 (6) 6,337
Total comprehensive income for the year - - - - 100,609 - - - 4,045 - 447 1,851 (6) 106,946
Issue of equity shares on exercise of options - 866 - - - - (866) - - - - - - -
(1)
Buyback of equity shares, including tax thereon - (1,427) - 475 (115,018) - - - - - - - - (115,970)
Transaction cost related to buyback of equity shares - - - - (199) - - - - - - - - (199)
(2)
Issue of shares by controlled trust on exercise of options - - - - 662 - (662) - - - - - - -
Effect of modification of ADS RSU from cash settled to equity - - - - - - 739 - - - - - - 739
settled (3)
Compensation cost related to employee share-based payment - - - - - - 2,310 - - - - - - 2,310
Transferred from Special economic zone re-investment reserve - - - - 2,650 - - (2,650) - - - - - -
(1)
Dividend - - - - (5,478) - - - - - - - - (5,478)
Other transactions for the year - (561) - 475 (117,383) - 1,521 (2,650) - - - - - (118,598)
Balance as at March 31, 2021 ^ 326 1,139 1,135 386,999 2,473 3,071 41,154 1,730 1,882 (524) 4,237 (2,164) 441,458
(1)
Refer to Note 29
(2)
3,344,866 shares have been transferred by the controlled trust to eligible employees on exercise of options during the year ended March 31, 2021.
(3)
Refer to Note 31
152
Firm’s Registration No.: 117366W/W – 100018

Wipro Limited | Ambitions Realized
Partner Chairman Director Chief Executive Officer
Membership No.: 60408 & Managing Director

Bengaluru June
8, 2022
Statement of Cash Flows (` in millions, except share and per share data, unless otherwise stated)
For the year ended For the year ended

March 31, 2022 March 31, 2021
Cash flows from operating activities

Adjustments to reconcile profit for the year to net cash generated from operating
activities
Gain on sale of property, plant and equipment, net (199) (344)
Net unrealised exchange (gain)/ loss, exchange (gain)/ loss on borrowings and loans
(693) (2,311)
to subsidiaries
Share-based compensation expense 4,110 2,310
Income tax expense 31,289 26,239
Finance and other income, net of finance costs (39,390) (17,208)
Reversal of provision for diminution in the value of non-current investments - (2,875)
Changes in operating assets and liabilities, net of effects from acquisitions
Trade receivables (9,413) 13,491
Unbilled receivables and contract assets (22,473) 3,764
Inventories 35 831
Other assets (9,922) 2,276
Trade payables, other liabilities and provisions 715 5,970
Cash generated from operating activities before taxes 93,301 150,036
Income taxes paid, net (20,896) (22,759)
Net cash generated from operating activities 72,405 127,277
Cash flows from investing activities
Payment for purchase of property, plant and equipment (15,855) (16,164)
Proceeds from disposal of property, plant and equipment 359 666
Payment for purchase of investments (1,006,006) (1,168,308)
Proceeds from sale of investments 939,410 1,186,059
Payment into restricted interim dividend account (27,410) -
Payment for business acquisition (30) -
Investment in subsidiaries (81,405) (1,546)
Repayment of loan by subsidiaries 24,390 -
Loans to subsidiaries (180) (32,630)
Interest received 12,077 19,128
Dividend received 28,539 45
Net cash used in investing activities (126,111) (12,750)
153
Statement of Cash Flows

March 31, 2022 March 31, 2021
Cash flows from financing activities

Proceeds from issuance of equity shares and shares pending allotment 6 6
Repayment of borrowings (89,249) (93,990)
Proceeds from borrowings 107,888 101,865
Payment of lease liabilities (4,638) (4,559)
Payment for buyback of shares, including transaction cost - (95,199)
Payment of tax on buyback of shares - (21,445)
Interest and finance costs paid (3,579) (2,257)
Payment of dividend (5,481) (5,478)
Net cash generated from/(used in) financing activities 4,947 (121,057)
Net decrease in cash and cash equivalents during the year (48,759) (6,530)
Effect of exchange rate changes on cash and cash equivalents (92) (78)
Cash and cash equivalents at the beginning of the year 97,832 104,440
Cash and cash equivalents at the end of the year (Note 10) 48,981 97,832
Refer to Note 15 for supplementary information on statement of cash flows
Bengaluru
June 8, 2022
Consolidated Balance Sheet

As at March 31, 2021

As at
Notes
March 31, 2022
ASSETS
Non-current assets
Property, plant and equipment 4 74,610 65,751
Right-of-Use Assets 5 18,870 16,420

Capital work-in-progress 6 16,015
18,532
Goodwill 7 242,861
43,555 135,147
Other Intangible assets 7
774
Investments accounted for using the equity method 9 13,085
Financial assets 1,464
19,109
Investments 9
6
Derivative assets 10
4,765 10,576
Trade receivables 11
6,084 16
Other financial assets 12
2,298
Deferred tax assets (net) 29 4,358
10,256
Non-current tax assets (net) 6,088
15,099
Other non-current assets 13
454,302 1,664
Total non-current assets
14,323
Current assets 1,334
Inventories 14 16,712
Financial assets 241,655 304,136
Investments 9 3,032
Derivative assets 10 115,219
1,064
Trade receivables 11 60,809
Unbilled receivables 103,836
175,707
Cash and cash equivalents 15 42,914
Other financial assets 12 2,373 4,064
Current tax assets (net) 20,647

94,298
Contract assets 28,933
27,124
Other current assets 13 620,752
Total current assets 1,075,054 169,793
TOTAL ASSETS 7,245
EQUITY AND LIABILITIES
10,964 2,461
EQUITY
643,066 16,507
Equity share capital 16
Other equity 654,030
24,923
515
Equity attributable to the equity holders of the Company 523,186
654,545
Non-controlling interests
TOTAL EQUITY 827,322
10,958
538,052
549,010
1,498
550,508

Consolidated Balance
Consolidated financial statements under Ind AS
Sheet
As at As at
Notes
March 31, 2022 March 31, 2021
LIABILITIES
Non-current liabilities
Borrowings 17 56,463 7,458
Lease liabilities 5,17 15,177 13,513
Derivative liabilities 10 48 -
Provisions 19 2,721 3,057
Deferred tax liabilities (net) 29 12,141 4,606
Non-current tax liabilities (net) 17,818 11,069
Other non-current liabilities 20 4,851 4,780
Total non-current liabilities 112,180 46,774
Current liabilities
Borrowings 17 95,233 75,874
Lease liabilities 5,17 9,056 7,669
Derivative liabilities 10 585 1,070
Trade payables 21 62,522 51,816
Other current liabilities 20 12,084 9,750
Provisions 19 18,081 17,836
Current tax liabilities (net) 13,231 17,324
Total current liabilities 308,329 230,040
TOTAL LIABILITIES 420,509 276,814
TOTAL EQUITY AND LIABILITIES 1,075,054 827,322
The accompanying notes form an integral part of these consolidated financial statements

Bengaluru June
8, 2022

Consolidated Statement of Profit and Loss


Notes
March 31, 2022 March 31, 2021
INCOME
Revenue from operations 22 790,934 619,430
Other operating income/(loss), net 23 2,186 (81)
Other income 24 20,612
23,907
Total Income 813,732
643,256
EXPENSES
Purchases of stock-in-trade 6,735
6,957
Changes in inventories of finished goods and stock-in-trade 25 (369)
315
Employee benefits expense 26 450,075
332,371
Finance costs 27 5,325
5,088
Depreciation, amortisation and impairment expense 30,778
27,634
Sub-contracting and technical fees 108,589
83,609
Facility expenses 25,269
20,255
Travel 7,320
5,258
Communication 5,760
6,069
Legal and Professional charges 7,561
5,561
Marketing and brand building 2,010
Lifetime expected credit loss/(write-back) (797) 1,011
Other expenses 28 14,125 1,506
Total expenses 662,381 8,723
Share of net profit /(loss) of associates accounted for using the equity method 57 504,357
Profit before tax 151,408 130
Tax expense 139,029
Current tax 29 32,415

Deferred tax 29 (3,441) 26,065
Total tax expense 28,974 4,284
Other Comprehensive Income (OCI) 108,680
Items that will not be reclassified subsequently to profit or loss:
Remeasurements of the defined benefit plans, net 26 402
Net change in fair value of investment in equity instruments measured at fair value
9,678 334
through OCI
Income tax relating to items that will not be reclassified to profit or loss 29 (972) 1,214
(109)
Items that will be reclassified to profit or loss:
Foreign currency translation differences relating to foreign operations 3,974 (518)
Reclassification of foreign currency translation differences on sale of investment in
associates and liquidation of subsidiaries to statement of profit and loss (158) -
223
Consolidated Statement of Profit and Loss


Notes
March 31, 2022 March 31, 2021
Net change in time value of option contracts designated as cash flow hedges 183 66
Net change in intrinsic value of option contracts designated as cash flow hedges (120) 1,193
Net change in fair value of forward contracts designated as cash flow hedges (303) 3,799
Net change in fair value of investment in debt instruments measured at fair value
through OCI (1,944) 2,079
Income tax relating to items that will be reclassified to profit or loss 29 712
(1,241)
Total other comprehensive income/(loss) for the year, net of taxes 11,452
6,817
Total comprehensive income for the year 133,886
115,497
Profit for the year attributable to:
Equity holders of the Company 122,296
107,964
Non-controlling interests 138
716
122,434
108,680
Total comprehensive income for the year attributable to:
Equity holders of the Company 133,699
114,834
Non-controlling interests 187
663
133,886 115,497
Earnings per equity share: (Equity shares of par value ` 2 each) 31

Basic 22.37 19.11
Diluted 22.31 19.07
Weighted average number of equity shares used in computing earnings per equity share
Basic 5,466,705,840 5,649,265,885
Diluted 5,482,083,438 5,661,657,822

Bengaluru June
8, 2022

Consolidated Statement of Changes in Equity

A. Equity share capital
Changes in equity share capital Change in equity share

Balance as at April 1, 2021 Restated balance as at April 1, 2021
due to prior period capital during the current Balance as at March 31, 2022
errors year
10,958 - 10,958 6 10,964
Change in equity share
Changes in equity share capital

Balance as at April 1, 2020
Restated balance as at April 1, 2020 capital during the previous Balance as at March 31, 2021
due to prior period errors
year
11,427 - 11,427 (469) 10,958
B. Other equity

Total
Aktie
Capital Share Special Foreign Remeasure- Investment in Investment in attributable Non-
Particulars Cash flow debt instruments

application Securities Capital redemption Retained options Economic currency ments of equity instruments to equity controlling Total
money pending hedging

premium reserve reserve earnings outstanding Zone re- translation measured at fair measured at fair holders of the interests
the defined
allotment investment reserve value through Company

Account reserve(2) benefit plans value through OCI

reserve OCI
Balance as at April 1, 2021 ^ 785 1,139 1,135 462,803 3,071 41,154 21,516 1,730 (897) 4,237 1,379 538,052 1,498 539,550
Profit for the year - - - - 122,296 - - - - - - - 122,296 138 122,434
Other comprehensive income - - - - - - - 3,767 (253) 399 (1,219) 8,709 11,403 49 11,452
Total comprehensive income/
- - - - 122,296 - - 3,767 (253) 399 (1,219) 8,709 133,699 187 133,886
(loss) for the year
Issue of equity shares on exercise

- 852 - - - (852) - - - - - - - - -
of options
Issue of shares by controlled trust
- - - - 1,071 (1,071) - - - - - - - - -
225
Compensation cost related to

- - - - 9 4,110 - - - - - - 4,119 - 4,119
Transferred to Special Economic

- - - - (5,907) - 5,907 - - - - - - - -
(3)
Dividend - - - - (32,804) - - - - - - - (32,804) (1,135) (33,939)
on exercise of options(1) employee
share-based payment Zone re-
investment reserve
(1)
Includes 14,689,729 treasury shares held as at March 31, 2022 by a controlled trust. 4,711,486 shares have been transferred by the controlled trust to eligible employees on exercise of options during the year
ended March 31, 2022.
(2)
Refer to Note 30
(3)
Refer to Note 33
^ Value is less than ` 1

Consolidated Statement of Changes in Equity
226
Wipro Limited | Ambitions Realized
Investment Investment in debt Total

Share Special
edemption Share Foreign Remeasure- in equity attributable Non-
application Securities Capital Capital Retained Economic Cash flow
Particulars options currency ments of the instruments instruments to equity controlling Total
money r Zone re-
hedging
outstand- holders of the interest
pending premium reserve reserve earnings investment translation (2) defined benefit measured measured
ing Account reserve reserve plans at fair value at fair value Company
allotment reserve through OCI through OCI
Balance as at April 1, 2020 ^ 1,346 1,139 660 472,196 1,550 43,804 21,981 (2,315) (1,120) 2,386 163 541,790 1,875 543,665
Profit for the year - - - - 107,964 - - - - - - - 107,964 716 108,680
Other comprehensive income - - - - - - - (465) 4,045 223 1,851 1,216 6,870 (53) 6,817
Total comprehensive income/(loss) for the year - - - - 107,964 - - (465) 4,045 223 1,851 1,216 114,834 663 115,497
Issue of equity shares on exercise of options - 866 - - - (866) - - - - - - - -
-
Buyback of equity shares, including tax thereon(3) - (1,427) - 475 (115,018) - - - - - - - (115,970) - (115,970)
Transaction cost related to buyback of equity shares - - - - (199) - - - - - - - (199) - (199)
Issue of shares by controlled trust on exercise of
options(1) - - - - 662 (662) - - - - - - - - -
Effect of modification of ADS RSUs from cash settled
to equity settled (4) - - - - - 739 - - - - - - 739 - 739
Compensation cost related to employee share-based
- - - - 7 2,310 - - - - - - 2,317 - 2,317
payment
Transferred from Special Economic Zone re-
investment reserve - - - - 2,650 - (2,650) - - - - - - - -
Dividend (3) - - - - (5,459) - - - - - - - (5,459) (960) (6,419)

Others - - - - - - - - - - - - - (80) (80)
Other transactions for the year - (561) - 475 (117,357) 1,521 (2,650) - - - - - (118,572) (1,040) (119,612)
Balance as at March 31, 2021 ^ 785 1,139 1,135 462,803 3,071 41,154 21,516 1,730 (897) 4,237 1,379 538,052 1,498 539,550
1)
Includes 19,401,215 treasury shares held as at March 31, 2021 by a controlled trust. 3,344,866 shares have been transferred by the controlled trust to eligible employees on exercise of options during the year ended March 31, 2021.

(2)
Refer to Note 30
(3)
Refer to Note 33
(4)
Refer to Note 32
^ Value is less than ` 1
As per our Report of even date attached.
Partner Chairman Director Chief Executive Officer
Membership No.: 60408 & Managing Director
Bengaluru June
8, 2022
Consolidated Statement of Cash Flows


March 31, 2022 March 31, 2021
Cash flows from operating activities:
Adjustments to reconcile profit for the year to net cash generated from operating activities
Gain on sale of property, plant and equipment, net (313) (516)
Unrealised exchange (gain)/loss, net and exchange gain on (1,021) (2,251)

4,110
borrowings Share-based compensation expense 2,310
(57)
Share of net profit of associates accounted for using equity method (130)
28,974
Income tax expense 30,349
(9,447)
Finance and other income, net of finance costs (16,614)
(2,186)
(Gain)/loss from sale of business and investment accounted for using the equity method 81
(301)
Gain on derecognition of contingent consideration payable -
Changes in operating assets and liabilities, net of effects from acquisitions

(11,833)
Trade receivables 12,848
(31,396)
Unbilled receivables and contract assets (1,062)
(256)
Inventories 803
(6,530)
Other assets 931
9,695
Trade payables, other liabilities and provisions 5,698
3,832
Contract liabilities 3,704
136,483
Cash generated from operating activities before taxes 172,465
(25,686)
Income taxes paid, net (24,915)
110,797
Net cash generated from operating activities 147,550
Cash flows from investing activities (20,153)

Payment for purchase of property, plant and equipment 736 (19,577)
Proceeds from disposal of property, plant and (1,015,486) 753
equipment Payment for purchase of investments 953,735 (1,172,251)
Proceeds from sale of investments (27,410) 1,189,059
Payment into restricted interim dividend account (129,846) -
Payment for business acquisitions including deposits and escrow, net of cash acquired 1,652 (9,873)
Proceeds from sale of investment accounted for using the equity method 12,275 -
Interest received 2 19,624
Dividend received (224,495) 4
Net cash generated from/(used in) investing activities 7,739

Consolidated Statement of Cash Flows


March 31, 2022 March 31, 2021
Cash flows from financing activities
Proceeds from issuance of equity shares and shares pending 6 6
allotment Repayment of borrowings (191,810) (97,206)
Proceeds from borrowings 260,120 103,418
Payment of lease liabilities (9,730) (8,660)

-
Payment for buyback of equity shares, including transaction (95,199)
-
cost Payment of tax on buyback of equity shares (21,445)
(309)
Payment for deferred contingent consideration -
(5,089)
Interest and finance costs paid (3,335)
(5,467)
Payment of dividend (5,459)
(1,135)
Payment of dividend to Non-controlling interests holders (960)
46,586
Net cash generated from/(used in) financing activities (128,840)
(67,112)
Net increase in cash and cash equivalents during the year 26,449
1,282
Effect of exchange rate changes on cash and cash (890)
169,663
equivalents Cash and cash equivalents at the beginning of 144,104
103,833
the year 169,663
Cash and cash equivalents at the end of the year (Note 15)
Refer to Note 17 for supplementary information on consolidated statement of cash flows

Consolidated financial statements under IFRS
Notes to the Consolidated Financial

Statements

Revenue IT Services ($ million)
IT Services operating margin1 Net Income to Turnover2
FY2018 7,895 FY2018 16.1% FY2018 14.7%
FY2019 8,120 FY2019 17.9% FY2019 15.3%
FY2020 8,256 FY2020 18.1% FY2020 15.8%
Operating Cash Flow to EBITDA Free Cash Flow to Net Income Gross Utilization
FY2018 79.9% FY2018 79.3% FY2018 72.2%
FY2019 97.4% FY2019 106.0% FY2019 74.4%
FY2020 79.5% FY2020 80.7% FY2020 72.2%
Attrition3 Market Capitalization ($ billion)4 Payout Ratio5

Corporate Overview | Management & Board Reports | Financial Statements
FY2018 16.8% FY2018 19.5 FY2018 72.8%
FY2019 17.6% FY2019 22.2 FY2019 60.7%
FY2020 14.7% FY2020 14.9 FY2020 87.3%
Key Performance Metrics

Human Capital Natural Capital
FY 2018 FY 2019 FY 2020
Total
Women Persons with Nationalities Total GHG Savings due to Water Recycled Waste
Employees
Employees (%) Disabilities in Workforce Emission environmental (as % of total water sent to
initiatives (in Mn USD) consumption) Landfill**
(tons of CO2 eq.)
163,827 35.0% 442 110 612,115 17.21 41.0% 3.3%

175,690 35.2% 545 125
498,236 19.47 42.0% 3.0%
188,270 35.0% 578 132
559,510 6.54* 41.0% 3.0%
Localization in On-shore Workforce * FY19 valuation is based on new methodology that is detailed under Natural Capital Section. FY17 and FY18 valuation is not
Continental adjusted. Valuation for 2020 will be completed by July 2020.
Europe
USA UK Australia ** Excluding construction and demolition debris
69.5% 33.0% 40.0% 67.6%
Intellectual Capital Social & Relationship Capital
R&D
Expenses 3,942 Patents Filled Cumulatively till date 2,200+ Patents 380
Granted
(` million)
4,619 2,000+ 2,300+

till Date
558
3,041
741 Active
Revenue from Community Partners CSR
Existing
Customers
98.1% Spend
1,248 98.6% 150

(` 1,866
1,818
million)
+
1,140 1,179 165+98.4% 175 1,853
Increase in Customer Total Employees Engaged
Net Promoter Score with Wipro Cares
(basis points)
(volunteering or monetary contribution or both)
486 bps
25,000+
511 bps
30,000+
99 bps
32,000+
Annual Report 2019 Wipro Limited
261
Wipro Limited
The activity in these stock option plans is summarized below:
Year ended
March 31, 2020 March 31, 2019
Range of exercise
Particulars
price Weighted Average Weighted Average
Number Number
Exercise Price Exercise Price
` 2 17,607,463 ` 2 13,543,997 ` 2
Outstanding at the beginning of the year
US $ 0.03 14,446,790 US $ 0.03 10,199,054 US $ 0.03
Bonus on outstanding ` 2 - ` 2 4,773,755 ` 2
(Refer Note 34) US $ 0.03 - US $ 0.03 3,957,434 US $ 0.03
` 2 5,662,500 ` 2 4,607,000 ` 2
Granted*
US $ 0.03 5,341,000 US $ 0.03 4,849,000 US $ 0.03
` 2 (4,610,572) ` 2 (2,739,097) ` 2
Exercised
US $ 0.03 (2,496,125) US $ 0.03 (1,541,803) US $ 0.03
` 2 - ` 2- -
Modification to Cash Settled RSU’s **
US $ 0.03 (5,681,966) US $ 0.03 - -
` 2 (3,065,201) ` 2 (2,578,192) ` 2
Forfeited and expired
US $ 0.03 (3,755,159) US $ 0.03 (3,016,895) US $ 0.03
` 2 15,594,190 ` 2 17,607,463 ` 2
Outstanding at the end of the year
US $ 0.03 7,854,540 US $ 0.03 14,446,790 US $ 0.03
` 2 1,502,957 ` 2 1,300,781 ` 2
Exercisable at the end of the year
US $ 0.03 1,212,560 US $ 0.03 948,877 US $ 0.03
As at March 31, 2020, 4,721,388 units (net of units that were exercised or Lapsed and Forfeited) of Cash Settled RSUs were
outstanding which include 63,999 exercisable units. The carrying value of liability towards Cash Settled RSU’s outstanding was `
496 which includes
` 15 towards exercisable units as at March 31, 2020.
* Includes 2,461,500 and 1,567,000 Performance based stock options (RSU) during the year ended March 31, 2020 and
2019,respectively. 2,524,600 and 1,673,000 Performance based stock options (ADS) during the year ended March 31, 2020 and
2019,respectively. Performance based stock options (RSU) were issued under Wipro Employee Restricted Stock Unit plan 2007
(WSRUP 2007 plan) and Performance based stock options (ADS) were issued under Wipro ADS Restricted Stock Unit Plan
(WARSUP 2004 plan).
** Restricted Stock Units arrangement that were modified during the year ended March 31, 2020
Pursuant to the Securities Exchange Board of India (SEBI) circular dated October 10, 2019 prohibiting issuance of depository
receipts by listed companies to Non-Resident Indians (NRIs), the Board Governance, Nomination and Compensation Committee in
November, 2019 approved cash pay out to its NRI employees in lieu of shares and upon exercise of vested ADS RSU under the
Company’s WARSUP 2004 Plan, based on prevailing market price of ADS on the date of exercise. This change was accounted for
as a modification and the fair value
on the date of modification of ` 561 has been recognized as financial liability with a corresponding adjustment to equity.
The following table summarizes information about outstanding stock options and restricted stock unit option plan:
Year ended March 31,
2020 2019
Range of exercise
Weighted Average Weighted Average
price Weighted Average Weighted Average
Numbers Remaining life Numbers Remaining life
Exercise Price Exercise Price
(months) (months)
` 2 15,594,190 23 ` 2 17,607,463 24 ` 2
US $ 0.03 7,854,540 23 US $ 0.03 14,446,790 26 US $ 0.03
The weighted-average grant-date fair value of options granted during the year ended March 31, 2020 and 2019 was ` 260.65
and
` 349.81 for each option, respectively. The weighted average share price of options exercised during the year ended March 31, 2020
and 2019 was ` 267.04 and ` 325.85 for each option, respectively.

WIPRO 2021-22 Annual Report Analysis

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WIPRO 2021-22 Annual Report Analysis

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WIPRO 2021-22 Annual Report Analysis

WIPRO Income Statement 2021-22

WIPRO Balance Sheet as on March 2022

WIPRO Cash Flow Statement 2021-22

Current Valuations for WIPRO

Per Share Data/Valuations

Ratio Analysis for WIPRO

Current Ratio: The company's current ratio deteriorated and stood at 2.0x

What is the current share price of WIPRO?

The revenues of WIPRO stood at Rs 814,529 m in FY22, which was up 26.3%

WIPRO's revenue has grown from Rs 570,465 m in FY18 to Rs 814,529 m in

This compares to a net profit of Rs 97,689 m in FY20 and a net profit of Rs

What does the cash flow statement of WIPRO reveal?

The cash flow statement of WIPRO reveals:

 Cash flow from operations decreased in FY22 and stood at Rs 110,797 m

(Rs m) FY18 FY19 FY20 FY21 FY22

What does the Key Ratio analysis of WIPRO reveal?

Be it the company's profitability, operations effectiveness or utilization of funds,

The ratio/financial analysis of WIPRO reveals:

 Operating profit margins witnessed a fall and stood at 20.9% in FY22 as

Here's the ratio/financial analysis of WIPRO for the past 5 years.

FY18 FY19 FY20 FY21 FY22

BALANCE SHEET OF MAR 22 MAR 21 MAR 20 MAR 19 MAR 18

12 mths 12 mths 12 mths 12 mths 12 mths

Equity Share Capital 1,096.40 1,095.80 1,142.70 1,206.80 904.80

TOTAL SHARE 1,096.40 1,095.80 1,142.70 1,206.80 904.80

Reserves and Surplus 53,254.3 44,145.8 45,311.0 48,185.2 41,357.8

TOTAL RESERVES 53,254.3 44,145.8 45,311.0 48,185.2 41,357.8

TOTAL 54,350.7 45,241.6 46,453.7 49,392.0 42,262.6

Long Term Borrowings 5.70 14.10 25.10 22.00 72.40

Deferred Tax Liabilities 0.00 130.50 0.00 10.40 46.30

Other Long Term 2,788.60 2,129.20 2,170.50 1,309.50 1,085.30

Long Term Provisions 64.10 88.50 213.30 119.60 168.80

TOTAL NON-CURRENT 2,858.40 2,362.30 2,408.90 1,461.50 1,372.80

Short Term Borrowings 7,673.40 5,791.20 5,001.90 5,052.20 4,647.70

Trade Payables 4,685.10 4,348.50 4,542.60 4,765.50 4,176.20

Other Current Liabilities 9,446.90 6,705.30 5,769.10 5,397.90 5,418.60

TOTAL CURRENT 23,173.7 18,132.4 16,443.8 16,144.6 15,035.9

TOTAL CAPITAL AND 80,382.8 65,736.3 65,306.4 66,998.1 58,671.3

Tangible Assets 7,386.60 6,578.70 5,863.30 3,874.20 3,802.60

Intangible Assets 651.10 709.40 776.10 526.80 564.40

Capital Work-In-Progress 1,584.50 1,848.00 1,873.50 2,112.70 1,290.60

Other Assets 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 9,622.20 9,136.10 8,512.90 6,513.70 5,657.60

Non-Current Investments 16,557.2 8,206.70 7,735.00 8,250.30 5,841.60

Deferred Tax Assets 53.30 47.40 433.30 391.00 452.00

Long Term Loans And 0.00 0.00 0.00 0.00 0.00

TOTAL NON-CURRENT 28,610.6 20,356.8 19,593.1 19,267.7 15,704.0

Current Investments 24,073.7 17,495.2 18,963.5 21,998.8 24,841.2

Inventories 87.50 91.00 174.10 340.30 294.30

Trade Receivables 9,295.40 8,046.20 9,257.00 10,648.6 9,502.00

Cash And Cash 4,898.10 9,783.20 10,444.0 10,390.2 2,322.00

Short Term Loans And 1,913.00 4,201.50 947.20 0.00 0.00

OtherCurrentAssets 11,504.5 5,762.40 5,927.50 4,352.50 6,007.80

TOTAL CURRENT 51,772.2 45,379.5 45,713.3 47,730.4 42,967.3

TOTAL ASSETS 80,382.8 65,736.3 65,306.4 66,998.1 58,671.3

Contingent Liabilities 8,271.50 1,999.00 2,693.50 2,618.90 10,123.1

Raw Materials 0.00 0.00 0.00 0.00 0.00

Stores, Spares And 0.00 0.00 0.00 0.00 0.00

Trade/Other Goods 0.00 0.00 0.00 0.00 0.00

Capital Goods 0.00 0.00 0.00 0.00 0.00

Expenditure In Foreign 25,960.2 21,329.5 22,949.1 23,036.2 20,783.1